Net income climbed to 447 million riyals ($123 million)
from 376 million riyals a year earlier, the Doha-based bank said
in an e-mailed statement today. The average estimate of six
analysts was for a profit of 465 million riyals, according to
data compiled by Bloomberg.

Commercial Bank of Qatar, the country’s second-biggest
lender by assets, plans to complete talks next month to buy a 75
percent in Turkey’s Alternatifbank. Qatari lenders are expanding
abroad amid limited growth prospects in their home market of 1.8
million people. Qatar National Bank SAQ (QNBK), the country’s biggest
lender, agreed to buy a majority stake in Egypt’s National
Societe General Bank SAE last month.

“The Qatar market has been extremely competitive in 2012
and the bank has worked hard to maintain market share in a lower
margin environment in which pricing pressure has remained,”
Group Chief Executive Officer Andrew Stevens said in the
statement. The bank cut net impairment loss on loans and
advances to 140 million riyals last year from 239 million riyals
a year earlier.

The shares, which lost 16 percent last year, declined 1.6
percent today before the results were announced.